As of June 11, the number of active Bitcoin addresses (BTC) reached 1,040,244. This is the highest figure in two and a half years. Many analysts believe that this calculation may be related to the total market price.
This is Bloomberg’s trick.
In his latest crypto report, Bloomberg mentioned that the number of active bitcoin addresses is a historically important bullish indicator.
“The highest level of active publications in the last two years would have preferred Bitcoin to a higher price, if history testifies.”
Will the story be repeated?
If we look at the historical data and select all the dates when there were at least 1,040,244 active Bitcoin addresses, and we took the average price, we get $ 14,700. Based on this, we can assume that there is some contrived speed waiting for the opportunity to exit.
A Bloomberg Crypto report says they expect the price of bitcoin to keep on approaching $ 20,000 or even reaching $ 28,000 by 2020. Obviously, there is no way to know if history will repeat itself or if this association has collapsed right away.